The present Company Petition was filed on October 22, 2022, by Prashant Kumar Gupta, the Personal Guarantor, under Section 94(1) of the Insolvency and Bankruptcy Code, 2016, read with Rule 6(1) of the Insolvency and Bankruptcy (Application to Adjudicating Authority for Insolvency Resolution Process for Personal Guarantors to Corporate Debtor) Rules, 2019. The application sought to initiate the Insolvency Resolution Process against the applicant, who is the personal guarantor of M/s P K Global Power Private Limited, for a default amount of Rs. 14,46,65,767.26 as of September 30, 2021, related to credit facilities extended by Punjab National Bank.

The present Company Petition was filed on October 22, 2022, by Prashant Kumar Gupta, the Personal Guarantor, under Section 94(1) of the Insolvency and Bankruptcy Code, 2016, read with Rule 6(1) of the Insolvency and Bankruptcy (Application to Adjudicating Authority for Insolvency Resolution Process for Personal Guarantors to Corporate Debtor) Rules, 2019. The application sought to initiate the Insolvency Resolution Process against the applicant, who is the personal guarantor of M/s P K Global Power Private Limited, for a default amount of Rs. 14,46,65,767.26 as of September 30, 2021, related to credit facilities extended by Punjab National Bank.